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We’re discontinuing the Stablegains service

blog.stablegains.com

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Re: We’re discontinuing the Stablegains service

#201

Post by pyrale »

koheripbal wrote: post #151
jmyeet wrote: post #100

What's funny about this is that I can recall discussions here and elsewhere from only a few months ago questioning the "guaranteed" super-high returns. I forget who said this but someone awhile ago said in finance said that if someone is promising you consistent above-market returns it's either a scam or there is unknown or undisclosed risk. And the Crypto Andys were all like "you just don't understand DeFi!" to whic…

What most people don't understand about finance is that there are fundamental rules that you really cannot break without consequences. Anyone who has studied quantitative finance knows that it is a HARD science. I worked with a Nobel prize winner in economics, and the math dominated. There was no politics, no opinions, no ethics involved. It really is a science. Most social media characterize finance as some ethical…

> Most social media characterize finance as some ethical vice or organized political power structure - and those people simply don't understand finance.

Just because quantitative analysis has solid grounding doesn't mean that its use is unrelated to ethics. The finance establishment is an organized power structure whose decisions are political.

If you want an analogy, I'm pretty sure that you'll find plenty of people who used ballistics to achieve goals that you would find pretty unethical.

Re: We’re discontinuing the Stablegains service

#202

Post by zamalek »

jmyeet wrote: post #100

What's funny about this is that I can recall discussions here and elsewhere from only a few months ago questioning the "guaranteed" super-high returns. I forget who said this but someone awhile ago said in finance said that if someone is promising you consistent above-market returns it's either a scam or there is unknown or undisclosed risk. And the Crypto Andys were all like "you just don't understand DeFi!" to whic…

In the linked Terra Revival post there's this gem of a term:

> Pre-attack Luna

I love how we went straight from "what happened" to "it was an attack."

Re: We’re discontinuing the Stablegains service

#203

Post by rglullis »

chx wrote: post #173
jdasdf wrote: post #145

Earlier quoted context omitted.

> All crypto is a scam and it's so simple to see, it's astonishing anyone fell for this. No, it is not. Please try to set aside your hatred for all things crypto and understand that there is actual legitimate value in many of the crypto projects, and that the core proposition, that of decentralized peer to peer value transfer, is a legitimate and useful use case.

> decentralized peer to peer value transfer, is a legitimate and useful use case. I would contest even this. People don't want to transfer "value" they want to transfer money , now to use, say, Bitcoin to transfer money you need to do the following steps: 1. Buy Bitcoin. Let's presume you are already set up with an exchange for this so all you need to do is transfer your money some way to the exchange. 2. Transfer Bi…

When you send money through Wise to Argentina, what exchange rate is used? The bullshit one from the government or the blue dollar?

Can you hire someone working in Venezuela and pay them with Wise?

"Oh, they are underdeveloped countries", you will say. Okay, question: If you were in Greece 5 years ago and you wanted to get your money out, could Wise help you in any way?

Re: We’re discontinuing the Stablegains service

#204

Post by lolscience »

koheripbal wrote: post #151
jmyeet wrote: post #100

What's funny about this is that I can recall discussions here and elsewhere from only a few months ago questioning the "guaranteed" super-high returns. I forget who said this but someone awhile ago said in finance said that if someone is promising you consistent above-market returns it's either a scam or there is unknown or undisclosed risk. And the Crypto Andys were all like "you just don't understand DeFi!" to whic…

What most people don't understand about finance is that there are fundamental rules that you really cannot break without consequences. Anyone who has studied quantitative finance knows that it is a HARD science. I worked with a Nobel prize winner in economics, and the math dominated. There was no politics, no opinions, no ethics involved. It really is a science. Most social media characterize finance as some ethical…

> There was no politics, no opinions, no ethics involved. It really is a science.

Except that there are humans involved. How do you boil arbitrary human action down to a HARD science?

Re: We’re discontinuing the Stablegains service

#205

Post by Seanambers »

koheripbal wrote: post #151
jmyeet wrote: post #100

What's funny about this is that I can recall discussions here and elsewhere from only a few months ago questioning the "guaranteed" super-high returns. I forget who said this but someone awhile ago said in finance said that if someone is promising you consistent above-market returns it's either a scam or there is unknown or undisclosed risk. And the Crypto Andys were all like "you just don't understand DeFi!" to whic…

What most people don't understand about finance is that there are fundamental rules that you really cannot break without consequences. Anyone who has studied quantitative finance knows that it is a HARD science. I worked with a Nobel prize winner in economics, and the math dominated. There was no politics, no opinions, no ethics involved. It really is a science. Most social media characterize finance as some ethical…

As a single actor you can bend, but never break the rules. So you can achieve way better returns than the market as a whole does. Over time 10 - 200 x returns is achievable, don't think it comes cheap though, you need to dedicate large chunks of your life to it, and nothing is a guarantee.

However, the math approach to finance works because in its essence it is quantifying human reactions and or emotions, which in large crowds turns out to be more predictable. In the short run, still, software holds its edge with its probability approach but its not smart so that it is basically a rent seeker.

Re: We’re discontinuing the Stablegains service

#206

Post by im3w1l »

jmyeet wrote: post #100

What's funny about this is that I can recall discussions here and elsewhere from only a few months ago questioning the "guaranteed" super-high returns. I forget who said this but someone awhile ago said in finance said that if someone is promising you consistent above-market returns it's either a scam or there is unknown or undisclosed risk. And the Crypto Andys were all like "you just don't understand DeFi!" to whic…

Here's a funny little anecdote. In the early life of bitfinex, you could lend money to levered traders at ~1000% interest. I did so personally, but only fairly small sums, and I did not sleep easy at night lol. It was pretty obvious it could blow up at any time, but somehow it didn't. Times were different then of course, ecosystem so much smaller - more room to grow.

https://web.archive.org/web/20130411113418/https://www.bitfi...

Re: We’re discontinuing the Stablegains service

#207

Post by CryptoPunk »

tootie wrote: post #162
Liron wrote: post #26

Written as if no mistakes were made on their end. Paraphrasing: "We all thought UST and Anchor were a source of stable >10%/yr gains that you could trust for your corporate treasury. That the yield instead turned out to be -99% is quite disappointing, and makes this a natural time for us to bring our service to an end. It's been a pleasure to serve you."

Anybody who believes that kind of logic deserves to lose their stake. Crypto has spent most of it's formative years riding an historic bull market and claiming it's immune to market forces. Now we have pretty clear evidence that crypto is just a multiple of the Nasdaq.

No post body was provided.

Re: We’re discontinuing the Stablegains service

#208

Post by lanstin »

adventured wrote: post #159
t-3 wrote: post #94

Earlier quoted context omitted.

A blockchain is already a public permanent record in the first place.

There's no such thing as a blockchain permanent public record. Some entity has to keep that up forever, maintained, public & accessible, for it to be such - that's not going to happen. Nearly all of them will fail and be wiped by time. And certainly all of them can go away, they're mere digital storage systems. There's nothing permanent about any of it, not by any stretch of the imagination. They're particularly, alm…

Time to donate to Internet Archive asking them to preserve final block state of as many chains as possible. Shouldn’t be too expensive, my laptop is a bitcoin node and lets be do all my work, and I guess the smaller chains are smaller in disk and compute and network.

Re: We’re discontinuing the Stablegains service

#209

Post by mettamage »

monkey26 wrote: post #186
koheripbal wrote: post #151

Earlier quoted context omitted.

What most people don't understand about finance is that there are fundamental rules that you really cannot break without consequences. Anyone who has studied quantitative finance knows that it is a HARD science. I worked with a Nobel prize winner in economics, and the math dominated. There was no politics, no opinions, no ethics involved. It really is a science. Most social media characterize finance as some ethical…

Will understanding the math make me rich? :)

Work at a HFT firm in Amsterdam. That type of finance knowledge will make you rich.

Re: We’re discontinuing the Stablegains service

#210

Post by moomin »

downandout wrote: post #187
jmyeet wrote: post #100

What's funny about this is that I can recall discussions here and elsewhere from only a few months ago questioning the "guaranteed" super-high returns. I forget who said this but someone awhile ago said in finance said that if someone is promising you consistent above-market returns it's either a scam or there is unknown or undisclosed risk. And the Crypto Andys were all like "you just don't understand DeFi!" to whic…

And the Crypto Andys were all like "you just don't understand DeFi!" to which the retort is "No, you just don't understand finance". If you believe the statement "if someone is promising you consistent above-market returns it's either a scam or there is unknown or undisclosed risk" it might be true that you don't understand DeFi to some degree. DeFi isn't a single market, it's millions of micro markets that are acces…

You’ve kind of just demonstrated the OP’s point. What do you think modern finance looks like?
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